Risk & Compliance Analyst - Control Testing & Development

As a Risk & Compliance Analyst - Control Testing & Development at Reserv, you’ll take charge of key functions like designing, testing, and refining internal controls. You'll facilitate risk assessments, document controls, and ensure that our compliance programs align with regulatory requirements and industry best practices. This role also involves collaborating with various teams to enhance operational efficiency and assist with regulatory inquiries and audits.

To be considered for the Risk & Compliance Analyst - Control Testing & Development position at Reserv, you should ideally hold a Bachelor's degree and have at least 2 years of experience in a risk or compliance role within the insurance industry. Proven expertise in control testing and development, as well as strong knowledge of insurance claims regulations, will also set you apart from the competition.

The Risk & Compliance Analyst - Control Testing & Development plays a vital role at Reserv by ensuring that our risk management and compliance frameworks are robust and effective. Your insights and actions will safeguard the organization against operational, financial, and regulatory risks while promoting a culture of compliance that supports our ambitious goals in the insurtech space.

Working as a Risk & Compliance Analyst - Control Testing & Development at Reserv means joining a remote, tech-driven environment that values creativity, collaboration, and growth. You’ll be part of a team that is deeply committed to challenging the status quo and leveraging technology to innovate. The culture is open, engaging, and infused with a bit of humor, making it an exciting place to be.

Reserv offers a comprehensive benefits package for the Risk & Compliance Analyst - Control Testing & Development role, including generous health insurance, 401(k) matching, competitive PTO policies, and family leave. Additionally, we prioritize work-life balance, providing the flexibility to work from anywhere, along with essential tools like Apple laptops and large monitors to support your professional endeavors.

In approaching compliance risks, I focus on assessing the potential impact on the organization, both operationally and financially. I engage cross-functional teams to get insights into various areas and score the risks based on urgency and severity, ensuring that our compliance efforts align with overall business goals.

Absolutely! In my previous role, I noticed discrepancies between our internal controls and regulatory requirements. I initiated a thorough gap analysis and collaborated with stakeholders to implement an updated training program, ensuring everyone was informed and aligned with the new compliance standards. This proactive approach not only rectified the gaps but also strengthened the overall compliance culture.

I have extensive experience drafting clear and concise policies and procedures that address compliance issues. I ensure these documents are user-friendly while covering essential regulatory requirements, often collaborating with legal teams for accuracy. Feedback from team members is vital during this process, as it helps in refining the documents for practical application.

I stay updated on regulatory changes by following relevant industry publications, attending webinars, and participating in professional compliance organizations. Networking with peers also provides valuable insights into evolving regulations, enabling me to adapt our compliance strategies accordingly.

Technology is instrumental in streamlining compliance processes. I’ve leveraged compliance management software to automate reporting and tracking of compliance obligations, allowing for real-time monitoring and reducing manual errors. These automated solutions not only enhance efficiency but also provide valuable data for better decision-making.

Addressing non-compliance requires a balance of empathy and firmness. I would first engage in a constructive conversation to understand the underlying reasons while emphasizing the importance of adherence to compliance protocols. Training sessions or additional resources might be needed to support them in aligning with our policies.

I have led numerous risk assessments, utilizing qualitative and quantitative methods to identify potential areas of risk within the organization. By collaboratively working with various departments, I develop comprehensive reports outlining risks and recommend mitigation strategies that align with our compliance objectives.

I am particularly drawn to Reserv because of its innovative approach to insurtech and commitment to improving the claims process through technology. Being part of a dynamic team that challenges the status quo resonates with my career goals, and I am eager to contribute my skills to enhance compliance and risk management.

One major challenge is keeping up with the rapid pace of regulatory changes and ensuring that compliance frameworks are both robust and adaptable. Additionally, instilling a culture of compliance within organizational hierarchies can be complex, requiring continuous education and communication strategies.

The effectiveness of compliance programs is often assessed through metrics such as compliance audit results, the frequency of compliance issues, and employee engagement levels in training initiatives. Implementing continuous feedback mechanisms helps in refining these programs and aligning them with best practices.